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Crude oil futures continued to rise, with the main contract for low-sulfur fuel oil (LU) up nearly 6%, the main contract for liquefied petroleum gas (LPG) up over 5%, and the main contracts for asphalt, fuel oil, and SC crude oil up over 3%.On April 24, Minister of Commerce Wang Wentao met with Airbus CEO John Faury on April 23. The two sides exchanged views on Airbuss operations and development in China, as well as China-EU economic and trade relations. Wang Wentao emphasized that since the beginning of this year, leaders of several EU countries have visited China, yielding fruitful practical results and demonstrating the resilience and vitality of China-EU economic and trade relations. China is willing to strengthen trade and investment cooperation with the EU and promote the stable and healthy development of China-EU economic and trade relations. However, the EUs recent tightening of trade restrictions on China has damaged the confidence of Chinese companies in investing in Europe and seriously affected normal China-EU economic and trade cooperation. He hoped that Airbus would play a positive role in encouraging the EU to work with China to properly resolve differences through dialogue and consultation.According to Futures News on April 24, as of 09:30 Beijing time, WTI crude oil futures rose 1.38%, while US natural gas futures fell 1.09%.The yield on Japans 40-year government bonds rose 3.5 basis points to 3.860%.The Peoples Bank of China announced today that it conducted a 5 billion yuan 7-day reverse repurchase operation, with a bid amount of 5 billion yuan and a winning bid amount of 5 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.

Ethereum Development 55% Complete After Merge: Vitalik Buterin

Alice Wang

Jul 25, 2022 15:13



Vitalik Buterin discussed the long-term viability of the network on July 21 at the annual Ethereum Community Conference (EthCC) in Paris.


With just two months before Ethereum (ETH) switches from energy-intensive proof-of-work mining to proof-of-stake consensus, the highly anticipated Merge was a hot subject.


To an audience of developers, Buterin said, "After the merging, you will be able to construct an Ethereum client that does not even know the proof-of-work phase has occurred."


He continued by saying that developers still had a lot of work to do since the network as a whole will only be "55 percent complete until we conclude the Merge." Although there may be delays, September 19 has been set aside for The Merge, which will connect the current Ethereum chain with the fresh Beacon Chain.

Massive Planned Ethereum Scaling

The transaction costs associated with Ethereum, which soar when the network is overloaded, are one of the most often voiced grievances. As a consensus change, The Merge won't resolve this problem, therefore transaction fees will continue to vary and become more costly during periods of high block space demand.


As the network grows, this problem will be addressed by upgrades scheduled for the next year.


 Ethereum "will be a far more scalable system by the conclusion of this road plan," said Buterin, adding that it "will be able to perform 100,000 transactions per second" by then. The network can only handle 15-20 transactions per second at the moment, which makes wider adoption impractical.


Buterin suggested more improvements with the rhymes "surge," "verge," "purge," and "splurge" in addition to the present one. These are a component of the network's cleaning phase and scale development, which are anticipated to be implemented in the next years.


He continued by saying that there will be significant adjustments to the security model, token supply, and monetary policy of Ethereum. Currently, around 5.5 million ETH are still being issued annually for Ethereum. Once the Merge takes place, the EIP-1559 upgrade's transaction fee burning procedure will render issuance deflationary, causing the supply to gradually decline.


More than 2.5 million ETH have been burned or lost when the update was introduced in August 2021. This is worth almost $4 billion at the present pricing.

Merge momentum is still present

Asset values are still rising as a result of these monetary characteristics, which are the exact opposite of inflationary fiat currencies. As interest in Merge rises, ETH has gained 33% over the previous week.


Following a monthly gain of 40%, ETH was up 2.5 percent on the day and trading at $1,578 at the time of writing. It is driving the current crypto market rise, but next week's macroeconomic data and worries about a recession may swiftly send everything spiraling downward.

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